Stablepoint Partners LLC Cuts Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Stablepoint Partners LLC lowered its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,426 shares of the semiconductor manufacturer’s stock after selling 548 shares during the period. Stablepoint Partners LLC’s holdings in Advanced Micro Devices were worth $1,139,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AMD. Christopher J. Hasenberg Inc boosted its position in Advanced Micro Devices by 12.0% during the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after purchasing an additional 60 shares in the last quarter. Wealth Effects LLC lifted its position in shares of Advanced Micro Devices by 0.7% during the third quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after buying an additional 65 shares during the last quarter. Jacobsen Capital Management boosted its holdings in shares of Advanced Micro Devices by 2.1% in the 3rd quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer’s stock valued at $554,000 after buying an additional 70 shares in the last quarter. Sigma Investment Counselors Inc. grew its position in shares of Advanced Micro Devices by 5.3% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer’s stock worth $243,000 after buying an additional 74 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC raised its stake in shares of Advanced Micro Devices by 4.3% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer’s stock worth $292,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Down 0.2 %

AMD stock opened at $122.84 on Monday. The stock has a market capitalization of $199.35 billion, a P/E ratio of 110.67, a P/E/G ratio of 1.09 and a beta of 1.66. Advanced Micro Devices, Inc. has a 52 week low of $114.41 and a 52 week high of $227.30. The firm has a 50-day simple moving average of $128.12 and a 200-day simple moving average of $143.50. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

AMD has been the subject of several analyst reports. HSBC reiterated a “reduce” rating and set a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Barclays cut their target price on Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research report on Monday, October 28th. Benchmark reissued a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $176.33.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.